Singapore Real Estate

Strong sales of luxury apartments this year
Deep-pocketed buyers have been out in force this year, with at least 19 sales of luxury apartments with price tags in excess of $10 million. Property consultancy OrangeTee & Tie said the most expensive unit in terms of absolute price sold so far was a sprawling unit at City Developments project Gramercy Park, which went for $24.5 million or $3,362 per sq ft (psf).http://www.straitstimes.com/business/property/strong-sales-of-luxury-apartments-this-year

Divergent HDB resale, private home price trends ‘will not last’
It was nine years ago when Housing and Development Board (HDB) resale prices and private non-landed residential prices last diverged. One has to go back even further, to 1999 for the last time when prices of private homes were heading north while HDB resale flats were getting cheaper — the exact scenario that the Singapore property market currently finds itself in.https://www.todayonline.com/singapore/divergent-hdb-resale-private-home-price-trends-will-not-last

Shophouse deals cross S$500m year to date
The buzz in the shophouse market continues, with deals crossing the S$500 million mark year to date. Industry players point to a high likelihood that total transactions this year will match, if not surpass, last year's S$1 billion, citing strong demand especially for conservation shophouses in Districts 1 and 2. A 999-year leasehold corner shophouse at 64 Club Street in the Central Business District has just been put on the market with an indicative guide price of around S$25 million. This works out to S$4,450 per square foot based on the estimated built-up area of 5,618 sq ft.http://www.businesstimes.com.sg/real-estate/shophouse-deals-cross-s500m-year-to-date

Rivercove Residences EC units 80% sold at average S$965 psf
Rivercove Residences wrapped up the first ballot and booking exercise for the executive condominium (EC) with nearly 80 per cent of its 628 units sold at an average price of S$965 psf. Located in the Anchorvale Lane neighbourhood of Sengkang, it is the sole EC launch for this year and is being developed jointly by Hoi Hup Realty and Sunway Developments.http://www.businesstimes.com.sg/real-estate/rivercove-residences-ec-units-80-sold-at-average-s965-psf

Becoming a role model for sustainability
While real estate developer City Developments (CDL) is famous for being involved in some of the most iconic buildings in Singapore, it is equally well known that the company is a role model for environmental sustainability. CDL chief sustainability officer Esther An says: "Globally, buildings account for 40 per cent of energy consumption and 30 per cent of greenhouse gas emissions."http://www.businesstimes.com.sg/companies-markets/company-of-good/becoming-a-role-model-for-sustainability

Real estate is this investor's game
It was clear when Quah Kay Beng was growing up that he would find his niche in real estate given how much he liked playing Monopoly. And if becoming "pretty good" at the boardgame was not incentive enough to try his hand at property, his uncle and aunt are in the real estate industry so family conversations would often revolve around the topic of bricks and mortar investments.http://www.straitstimes.com/business/invest/real-estate-is-this-investors-game

Chaos is also needed to build a Smart Nation
Carlo Ratti is a lot of things: architect, engineer, activist, and voted one of the world's most influential designers. He runs his own design and innovation firm Carlo Ratti Associati, and teaches at Massachusetts Institute of Technology (MIT), where he directs the MIT Senseable City Lab, which looks at how new technologies are changing the way we understand, design and live in cities.http://www.businesstimes.com.sg/life-culture/disrupted/chaos-is-also-needed-to-build-a-smart-nation

The online retail gambit
Jim Boland is not one person you would expect to see at your doorstep hauling the groceries you ordered online. The chief financial officer of homegrown online grocer RedMart personally delivers orders for customers here at least twice a year. But this is not a story about Mr Boland or why he needs to deliver groceries himself. It is about how the company he works for is giving supermarket chain giants a run for their money.https://www.businesstimes.com.sg/brunch/the-online-retail-gambit

Note:The Daily News & Views is issued as news gathering for the convenience and benefits of REDAS’ members only and not for mass circulation. Members are advised to exercise discretion in the use and dissemination of the information. Some news links in Daily News & Views are time sensitive and require registration of fee-based digital subscriptions. These links may expire with news changes and updates throughout the day.

DisclaimerReal Estate Developers' Association of Singapore does not warrant the accuracy, adequacy or completeness of the information and expressly disclaims liability for errors or omissions therein. The content, accuracy, and opinions expressed are not investigated, verified, monitored, nor endorsed by Real Estate Developers' Association of Singapore. Every effort is taken to ensure that all information extracted is correct at the time of dissemination 16 Apr, 2018.